Nov 7, 2012 7:00pm PST
. ramin mellegard joins us from the business desk. we saw many americans celebrating the re-election of president obama but it seems the mood was different on wall street. >> it really was. we're seeing the reactions following the elections. investors really concerned about tax and spending issues and that's going to be a major focus going forward. government spending cults and tax hikes are set to go into effect at the end of the year. the so-called fiscal cliff. investors worry obama will be unable to resolve the crisis with the house of representatives still controlled by the republicans. the key index on the new york stock exchange fell sharply when markets reopened after the election. the dow jones industrial average at one point lost over 360 points. the index finished the day at 12,932, down 2.3% from the previous day's close. new york stocks dliped from the start as investor concerns shifted to how obama will address the country's economic challenges. they're particularly worried the fiscal cliff could weigh down u.s. growth into the new year. >> it's a pretty sad da
Nov 8, 2012 6:30pm PST
's no way for us to gauge how corrupt the system is, the party is there. basically, he is telling people -- get things in order behind closed doors or else the whole thing is going to blow up. >> possibly, yes. what china's leadership has learned is that tiny little events may have a major impact internationally but also in certain countries. look at northern africa and egypt, tunisia. they have studied these processes very intensely, and they know -- they have roughly 100,000 incidents of social unrest a year. >> what do we expect -- what are you expecting from the new leadership in terms of foreign policy? >> mostly a continuation of policies as we have seen the mayan past. china's major priority to stability in as regional environment but also globally. china needs stability in order to promote economic policies. >> thank you very much for coming in to talk with us. >> you are welcome. >> we will also have a look at the politically sensitive topic of rich and poor in china, a gap that has widened over the past 10 years, coming a little bit later in the program. moving on to syria -- "